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Why we need to shift toward a cashless world | World Economic Forum In developed countries, a cashless society will deliver transactions that are seamless, frictionless and low-cost And in developing nations, it could deliver life-changing socio-economic benefits This easily accessible exchange of value will create a more equal world, and strengthen the bond between people, regardless of where they live
Who will be king in a cashless world? | World Economic Forum The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests
How Indonesia is creating financial inclusion through digital wallets In Indonesia, where over 273 million people are scattered across thousands of islands, almost half of all adults remain unbanked or underbanked Its Central Bank sees digital wallets in a cashless society as vital to reach the unbanked The global discourse on financial inclusion can learn from such models
Why a cash-free future might not be as close as you think The cashless society is not a particularly new idea It has generally been held up as an example of the positive march of progress, with some of the most influential names in global economics pointing out its potential benefits But there may also be downsides, and one UK study has warned that “sleep-walking” into becoming a cashless society could leave millions of people financially
Is “cashless” leading to a more inclusive society in East Asia? Is a cashless society an inclusive one? People's demand for cash is still widespread across Asia, especially from the perspective of inclusive finance and consumer protection For instance, in many cities across China, it has become increasingly difficult to hail and pay for a taxi, buy groceries, or even settle a bill without mobile payments
These are the pitfalls of a cash-free society These scenarios are swiftly becoming reality in countries leading the shift towards a cashless future But an independent report on cash use published in the UK finds that the rush to embrace digital payments risks leaving people behind, especially the most vulnerable in society
Are we heading towards a cashless economy? - The World Economic Forum The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests